The crypto market experienced liquidations exceeding $67.62 million in the past 24 hours, with long positions being liquidated for as much as $38.98 million, accounting for over 57%. Data shows that losses on long positions are significantly greater than those on shorts, which typically reflects a short-term market sentiment that is clearly bearish—bullish traders have suffered heavy losses in this wave of decline.

Interestingly, BTC's current waterfall only lasted two days. Looking back at historical trends, the market often repeats the same pattern: first attracting more long traders to enter, accumulating enough long positions, and then executing a sudden sharp decline. Such tactics are most damaging to retail investors. Currently, caution is advised—short-term rebounds and trap setups often only a candle away.